Mountain Pacific Investment Advisers LLC Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Mountain Pacific Investment Advisers LLC lessened its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 79.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,327 shares of the medical technology company's stock after selling 60,565 shares during the quarter. Mountain Pacific Investment Advisers LLC's holdings in Teleflex were worth $2,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Teleflex during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB increased its position in Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Whipplewood Advisors LLC increased its position in Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock worth $32,000 after purchasing an additional 231 shares in the last quarter. True Wealth Design LLC boosted its stake in Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after buying an additional 104 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock worth $55,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Stock Performance

Shares of NYSE:TFX opened at $119.93 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a one year low of $118.70 and a one year high of $249.91. The business's 50-day simple moving average is $126.73 and its 200 day simple moving average is $152.12. The company has a market cap of $5.30 billion, a P/E ratio of 23.84, a PEG ratio of 1.73 and a beta of 1.10.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the business earned $3.21 EPS. Teleflex's revenue for the quarter was down 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.13%. Teleflex's dividend payout ratio is currently 42.90%.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on Teleflex from $150.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Citizens Jmp lowered Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Wall Street Zen lowered Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Truist Financial reduced their price objective on Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Bank of America lowered Teleflex from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $235.00 to $140.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $164.63.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.

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